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Rams player Odell Beckham Jr. will accept NFL salary in Bitcoin
Odell Beckham Jr., wide receiver for the Los Angeles Rams football team, has said he will be taking all of his $4.25 million National Football League salary in Bitcoin. In a Monday post to his Twitter account, Beckham said he would be partnering with Cash App to take his next NFL salary in Bitcoin (BTC). National Insider reporter Ian Rapoport said earlier this month that Beckham would be earning a $750,000 base salary on top of a $500,000 signing bonus in addition to $3 million in other incentives, totaling $4.25 million for the 2021 season. It’s a NEW ERA & to kick that off I’m hyped to announce that I’m taking my new salary in bitcoin thanks to @CashApp. To ALL MY FANS out there, no matter where u r: THANK YOU! I’m giving back a total of $1M in BTC rn too. Drop your...
This Singapore tech company says its recycling 90% of waste heat from Bitcoin mining
It takes a lot of energy for miners to verify transactions and mint new blocks on the Bitcoin (BTC) blockchain. According to Statistica, one Bitcoin transaction consumes as much electricity as over 1 million VISA transactions. Moreover, the cryptocurrency’s environmental burden increases even more if the energy used for mining stems from fossil fuels. But SAITech, a Eurasia-based Bitcoin mining operator with headquarters in Singapore, seeks to recycle the waste energy from mining for use in residential, agricultural, and industrial applications. The company is also undergoing a $228 million special purpose acquisition company, or SPAC, merger with TradeUP Global Corp for its stock to list on the NASDAQ exchange. In an exclusive interview with Cointelegraph, SAITech’s CEO Arthur...
Sotheby’s Metaverse announces latest and largest NFT charity auction
Sotheby’s, the world’s oldest art and luxury auction house, announced its collaboration with the public health care advocate and nonprofit organization Sostento to auction off its latest NFT collection via the Sotheby’s Metaverse. The auction titled Gifted: The 140 Collection is considered to be Sotheby’s “biggest NFT charity auction ever,” with all of its proceeds going towards Sostento. The NFTs were originally gifted by Twitter as part of a giveaway of 140 NFTs to 140 random followers in June of this year. Its recipients became known as “The Besties.” Now, 7 of these Besties have elected to sell the full set of 7 NFTs and support Sostento frontline health care workers in their efforts against the Covid-19 pandemic and the opioid overdose crisis. The NFT giveaway followed Twitter C...
Analysts pinpoint bull and bear scenarios as Bitcoin price dips below $56K
Cooler heads are calling for a collective deep breath and a step back to see the long-term outlook for the future of Bitcoin (BTC) price and the wider crypto market, but today’s drop back under $56,000 is raising eyebrows among traders. Data from Cointelegraph Markets Pro and TradingView shows that after starting the week near $60,000, several days of bears hammering the price of Bitcoin resulted in a revisit to $55,600. BTC/USDT 1-day chart. Source: TradingView Here’s what analysts have to say about the latest price action from Bitcoin and what to look out for in the days ahead. Keep an eye on the monthly close A closer look at the monthly price action for Bitcoin was discussed by independent market analyst ‘Rekt Capital’, who posted the following chart showing that BTC is close to ...
Raimondo: Commerce ‘war room’ seeing improvements on supply chain woes
“There is no one thing [that will fix supply chains], that has become crystal clear to me,” Raimondo said. “So we have to do everything and all of the things we do, marginally, will improve the problem.” The group is crunching data the Commerce Department requested in September from companies that produce and purchase semiconductors, the microchips that power electronic devices ranging from smartphones to automobiles. Raimondo said she was pleased companies from around the world were forthcoming with information about their business transactions, which she believes will give the administration clearer insight into often-opaque questions about how many chips are being bought and sold. “Semiconductors are like the water of the new economy, you can’t do anything without them. And there ...
Biden eyes SPR crude oil release in coming days
A release of that magnitude would represent about three day’s worth of U.S. crude oil production. A White House spokesperson said no decision had yet been made on a release of oil from the SPR. “The conversations are ongoing and we are considering a range of tools for if and when action is needed,” the White House spokesperson said. Bloomberg News first reported the likelihood of an SPR release earlier on Monday. Energy Secretary Jennifer Granholm has repeatedly raised the possibility in recent weeks that the administration could tap the SPR as higher fuel prices antagonized the general public and helped drive Biden’s public approval ratings lower. Releasing oil from the reserves — which are stored in a network of salt caverns in Louisiana and Texas and currently total 604 million ba...
Top 3 play-to-earn tokens to buy on November 22: UFO, YGG, and CRA
You can earn these tokens in-game or buy them if you do not want to spend the time. Each of them has the potential to climb in value over the next month. UFO, TGG, and CRA are the tokens to buy on November 22. UFO Gaming (UFO) is a fully decentralized social gaming token and a play-to-earn metaverse, virtual land, NFT gaming, and IDO launchpad. Yield Guild Games (YGG) is a play-to-earn gaming guild that connects players to earn through a blockchain-based economy. Crabada (CRA) is a play-to-earn idle game, where players can compose classes, pick factions, and combine skill synergies. Should you buy UFO Gaming (UFO)? On November 22, UFO Gaming (UFO) had a value of $0.00004259. To get a better perspective as to what kind of value point this is for the token, we will go over its all-time...
Invesco exec reveals reasons for dropping Bitcoin futures ETF
After dropping a filing for a Bitcoin (BTC) futures exchange-traded fund (ETF) in October, United States $1.6-trillion asset manager Invesco has disclosed the reasons behind its decision. Anna Paglia, global head of ETFs and indexed strategies at Invesco, said that the biggest reason for dropping the filing was that the U.S. Securities and Exchange Commission only approved Bitcoin ETFs with 100% exposure to Bitcoin futures. The Invesco Bitcoin Strategy ETF was designed to ideally be a mix of futures swaps, physical Bitcoin and private funds in the Bitcoin industry, Paglia said in a Sunday interview with the Financial Times. Such a composition would help protect investors in the event of a liquidity crisis, she stated, adding: “We thought that CME futures were going to be a very effective e...
Swedish call to ban crypto mining ‘completely misinformed,’ says fund manager
A Swedish financial watchdog’s call for a European Union-wide ban on proof-of-work (PoW) crypto mining, mainly known as the method of minting new Bitcoin (BTC), has received backlash from crypto-related fund managers. Melanion Capital, a Paris-based alternative investment firm known for its Bitcoin ETF, addressed the Swedish Financial Supervisory Authority and Swedish Environmental Protection Agency’s call to ban PoW mining across Europe. “The claim that Bitcoin miners jeopardize the electricity network is completely misinformed,” noted Melanion, reminding that Bitcoin miners’ business model is prone to collapse when the electricity demand increases as it would also increase energy prices. The statement points to the authorities that have chosen to welcome miners instead of banning t...
Bitcoin stays volatile as BTC jumps $2.9K in 15 minutes before Wall St. open
Bitcoin (BTC) stayed true to form on Nov. 22 as the hour before the Wall St. opening bell was met with a sudden surge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Skittish Bitcoin darts around below $60,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose almost $3,000 in minutes after hitting multi-day lows of $56,640 Monday. #Bitcoin just pumped $2500 in like 5 minutes — Benjamin Cowen (@intocryptoverse) November 22, 2021 The pair had seen strong rejection after briefly breaking the $60,000 mark, this now clearly acting as resistance and a critical level to break in order to continue the bull run. As Cointelegraph reported, opinions continue to favor a return to full-on gains for Bitcoin, albeit with the specter of missing the predicted...
Southeast Asian financial institutions turn to the Ethereum blockchain
Blockchain innovation is surging throughout Southeast Asia, as the region is home to a number of fintech firms and global crypto companies. In particular, Singapore has become one of the world’s most crypto-friendly countries. This was recently highlighted in a report conducted by crypto exchange Gemini, which found that 67% of 4,348 respondents currently own crypto. The report further noted that Ether (ETH) is the most popular cryptocurrency in the region, with 78% of surveyors claiming to own the digital asset. Interestingly enough, the Ethereum blockchain may also be the network of choice for financial institutions based in Southeast Asia. Charles d’Haussy, Asia managing director at blockchain firm ConsenSys, told Cointelegraph that companies in the region looking to empower...
Australian Senator says DeFi is ‘not going away any time soon’
Senator Jane Hume has stated that decentralized finance (DeFi) “presents huge opportunities” for Australia to cement its place as a “front-runner for innovation and economic progress.” Senator Hume spoke at the Australian Financial Review Super & Wealth Summit in Sydney on Monday, Nov. 22. She is the Minister for Women’s Economic Security of Australia, representing the Liberal Party and the state of Victoria. The conference was primarily about super and government retirement funds — both notoriously slow and steady investments. The comments on DeFi are more notable in this regard. Senator Hume called for industry and government to acknowledge that DeFi is “not a fad,” and to “tread cautiously, but not fearfully” because the technology is “not going away any time soon.” “If ...
